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Market Commentary


 
Today's Coupons
 
  10-Year Notes   98-13.5 (-09.5) 2.180%  
 
  FN 3.5% Coupon   104-01 (-02)  
 
  Support   2.250%  
 
  Resistance   2.010%  
 
 
 
 
Today's Blurb Monday, November 2, 2015
 
 
      This week we get data on Inflation, Manufacturing, and Employment. Today we get ISM Manufacturing and Construction Spending, Tuesday we get Factory Orders which is expected to decline for the second consecutive month, followed by Nonfarm Payrolls and Unemployment on Friday. Expectations for Nonfarm Payroll Report are for a bounce back to 185K from last month's 142K with a 1/10th decline in the Unemployment Rate to 5.00%. This week's Payrolls report will be a primary data pivot for December FOMC expectations. Markit US Manufacturing PMI rose to 54.10 from 54.00 prior in the October Final reading. September Construction Spending slipped to 0.60% vs. 0.70% prior (consensus +0.50%). October ISM Manufacturing slipped to 50.10% vs. 50.20% prior (consensus 50.00%), and ISM Prices Paid rose to 39.00 vs. 38.00 prior (consensus 39.80). Treasuries are hovering just below Friday's 2:00 PM (PT) close and the curve has steepened with 2s10s up 2.3 bps.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  11/02 Markit US Manufacturing PMI 06:45 Oct F 54.00 54.10 54.00 -  
                   
  11/02 Construction Spending MoM 07:00 Sep   0.50%   0.60%   0.70% -  
                   
  11/02 ISM Manufacturing 07:00 Oct 50.00 50.10 50.20 -  
                   
  11/03 ISM New York 06:45 Oct 45.70 - 44.50 -  
                   
  11/03 Factory Orders 07:00 Sep -0.90% - -1.70% -  
                   
  11/03 IBD/TIPP Economic Optimism 07:00 Nov 47.40 - 47.30 -  
                   
  11/04 MBA Mortgage Applications 04:00 Oct 30 - - -3.50% -  
                   
  11/04 ADP Employment Change 05:15 Oct 180K - 200K -  
                   
  11/04 Trade Balance 05:30 Sep -$41.00 B - -$48.33 B -  
                   
  11/04 Markit US Composite PMI 06:45 Oct F - - 54.50 -  
                   
  11/04 Markit US Services PMI 06:45 Oct F 54.50 - 54.40 -  
                   
  11/05 Challenger Job Cuts YoY 04:30 Oct - - 93.20% -  
                   
  11/05 Initial Jobless Claims 05:30 Oct 31 260K - 260K -  
                   
  11/05 Nonfarm Productivity 05:30 3Q P -0.30% - 3.30% -  
                   
  11/05 Continuing Claims 05:30 Oct 24 2140K - 2144K -  
                   
  11/05 Bloomberg Consumer Comfort 06:45 Nov 1 - - 42.80 -  
                   
  11/06 Change in Nonfarm Payrolls 05:30 Oct 185K - 142K -  
                   
  11/06 Change in Private Payrolls 05:30 Oct 168K - 118K -  
                   
  11/06 Change in Manufact. Payrolls 05:30 Oct -5K - -9K -  
                   
  11/06 Unemployment Rate 05:30 Oct 5.00% -  5.10% -  
                   
  11/06 Average Hourly Earnings MoM 05:30 Oct 0.20% - 0.00% -  
                   
  11/06 Average Hourly Earnings YoY 05:30 Oct 2.30% - 2.20% -  
                   
  11/06 Underemployment Rate 05:30 Oct 9.90% - 10.00% -  
                   
  11/06 Labor Force Participation Rate 05:30 Oct - - 62.40% -  
                   
 
 
 
 
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